| Re: Sir Rants-a-lot with a couple of thoughts... |
Subject: Re: Sir Rants-a-lot with a couple of thoughts... by CentralCoaster on 2008/11/14 2:00:17 They screwed themselves, they are borrowing from a wealthy tomorrow that doesn't exist, and they either didn't forsee this coming, or didn't care. I'm convinced these failing banks didn't care, they figured they'd ride the housing market wave as long as possible and bail out before it crashes and hurts many others in the process. Bailing anyone out only reinforces the same behavior that led to this to begin with. I've been keeping an eye on the mortgage ideas that keep coming out, and haven't seen a single one yet that prevents foreclosures without simply forgiving the worst risk takers that are already behind on payments or could have never afforded their loan to begin with. Those are the last people you want to forgive, because they're the same people that are going to get greedy and screw it up again later. |
